Carolina Legacy Trust in Travelers Rest, South Carolina (SC)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Carolina Legacy Trust | |
| Employer Identification Number (EIN) | 208121786 |
| Name of Organization | Carolina Legacy Trust |
| In Care of Name | Rick Fisher |
| Address | PO BOX 1549-1228, Travelers Rest, SC 29690 |
| Subsection | Charitable Organization |
| Ruling Date | 06/2008 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 11/2012 |
| Assets | $1 to $9,999 |
| Income | $0 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,944 |
| Amount of Income | $8,050 |
| Form 990 Revenue Amount | $8,050 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations |
Non-representatives - add comments:
Amount of income in 2012: $8,050 (it was $8,050 in 2011)
| Carolina Legacy Trust: | $8,050 |
| Other organizations performing similar types of work: | $103,138 |
Assets in 2012: $1,944 (it was $10,608 in 2011)
| Carolina Legacy Trust: | $1,944 |
| Other organizations performing similar types of work: | $338,623 |
Expenses in 2011: $0
| Carolina Legacy Trust: | $0 |
| Other organizations performing similar types of work: | $46,867 |
Grants share in income in 2011: 100.0%
| This organization: | 100.0% |
| Other organizations performing similar types of work: | 79.6% |
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $8,050 | $0 | $0 | |
| Contributions, gifts, grants, etc., received | $8,050 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $0 | $0 | $0 | $0 |
| Excess of revenue over expenses and disbursements | $8,050 | |||
| Net investment income | $0 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $10,608 | $10,608 |
| Cash - non-interest-bearing | $10,608 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Total liabilities | $55,000 | |
| Mortgages and other notes payable | $55,000 | |
| Total liabilities and net assets/fund balances | $-44,392 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $7,595 |
| Net value of noncharitable-use assets | $7,480 |
| Minimum investment return | $374 |
| Distributable Amount (for 2011) | |
| Distributable amount | $374 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $374 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $0 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | The Mcalister Foundation | 330 Church St, Laurens, SC 29360-2362 | SC | 2002-03 | $11,389,882 |
| 2 | Darla Moore And Richard Rainwater Foundation | 133-B E Main St, Lake City, SC 29560 | SC | 2011-08 | $5,789,267 |
| 3 | Darnall W Boyd Foundation Inc | 7700 Trenholm Road Ext, Columbia, SC 29223-1724 | SC | 2010-09 | $4,341,107 |
| 4 | Solomon Jackson Jr Foundation | PO BOX 90326, Columbia, SC 29290-1326 | SC | 2010-07 | $2,673,718 |
| 5 | Marilynn And John Hill Foundation Inc | 2015 Allandale Plantation Rd, Wadmalaw Is, SC 29487-6905 | SC | 2011-03 | $2,277,467 |
| 6 | Stephen D Mitchell Foundation Inc | PO BOX 3666, Greenville, SC 29608-3666 | SC | 2013-02 | $2,266,022 |
| 7 | Tsc Foundation Inc | 104 E Springs St, Lancaster, SC 29720-2159 | SC | 2001-07 | $2,221,185 |
| 8 | Tim And Cathy Grant Family Foundation | 30 Round Pond Rd, Greenville, SC 29607-3717 | SC | 2015-04 | $1,746,181 |
| 9 | Wilbur S Smith And Margaret P Smith Foundation Inc | 1901 Main St Ste 900, Columbia, SC 29201-2457 | SC | 2004-02 | $1,455,768 |
| 10 | Mcnaughton Family Foundation | PO BOX 171281, Spartanburg, SC 29301-0041 | SC | 2010-04 | $1,133,187 |
| 11 | Rose Sipocz Revocable Trust, Perricone Philp Per Rep | 333 Reflection Dr, Lyman, SC 29365-9582 | SC | 2007-05 | $946,809 |
| 12 | Parrish Family Foundation | 106 Misty Oaks Pl, Lexington, SC 29072-7406 | SC | 2011-02 | $656,867 |
| 13 | Russ And Andrea Gullotti Charitable Foundation, Gullotti Russell A & Etal Ttee | 7 Ballybunion Way, Bluffton, SC 29910-4977 | SC | 2001-02 | $515,367 |
| 14 | The Cart Fund Inc | PO BOX 1916, Sumter, SC 29151-1916 | SC | 1996-08 | $481,076 |
| 15 | Wayne & Pauline Thrift Family Foundation | 1408 Cross Creek Dr, Seneca, SC 29678-1613 | SC | 2009-07 | $377,107 |
| 16 | Stouffer Fam Charitable Tr Ua 111898, Stouffer Spencer R Ttee | 19 Mckays Point Rd, Hilton Head, SC 29928-3321 | SC | 1999-02 | $352,916 |
| 17 | Rogers-Slater Foundation Inc | 3104 Devine St, Columbia, SC 29205-1846 | SC | 2003-04 | $342,993 |
| 18 | Red Bank Farm Foundation | PO BOX 675, Camden, SC 29021-0675 | SC | 2013-11 | $296,151 |
| 19 | The H Neel Hipp And Scott Timmons Hipp Foundation, Hipp Scott Timmons Ttee | PO BOX 546, Greenville, SC 29602-0546 | SC | 2000-04 | $216,997 |
| 20 | Joye Cottage Foundation | 129 1st Ave Sw, Aiken, SC 29801-4862 | SC | 2009-10 | $180,694 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 20,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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